distributor sales reps dive Into understanding business Intelligence

Dive Into Understanding Business Intelligence

What Is Business Intelligence?

BI turns raw data from customer behavior into clear insights that drive action. Business intelligence can be defined as analyzing and processing a large amount of data and then converting it into knowledge-based information to support some profitable business decisions.

Data drives successful business forecasts, decisions, and strategies. BI tools include business models, data models, and reporting tools to organize and transform the data in your ERP into useful information.

Some BI terms:

  • Big Data is a collection of large and complex data sets that contains structured and unstructured data. This may be difficult to process and analyze using traditional database management tools.
  • Data Warehouse is a subject-oriented and integrated system for reporting and analyzing the data to support a decision-making process.
  • Data Mining is a process of applying some statistical techniques to a large amount of raw data and turning it into useful information.

Data Is Your Competitive Edge

Are you finding it difficult to analyze your data in various apps, spreadsheets, and databases? Tracking high volumes of customer, product, and sales information is useless unless you can streamline it to make well-informed decisions about your business operations quickly and easily.

Business intelligence tools pull it together and allow you to retrieve, analyze, and transform data, create manageable dashboards, and generate reports to drive growth. You gain easy-to-read reports and customized dashboards that will enable your teams to explore patterns in data.

Predictive analytics give a deeper understanding of your customer’s interactions with unified data across touchpoints. This becomes your competitive edge over others struggling to make sense of all their numbers.

Impact of Business Intelligence

BI tools have proven helpful for business organizations and is considered a must-have business software platform. Analytics integrated with your Enterprise Resource Planning (ERP) and other business systems provide at-a-glance views of margin performance across customers, locations, and products.

Benefits of BI Software:

  • Sales planning and forecasting with predictive analytics
  • Customer buying history and behavior
  • Capacity and resource planning
  • Real-time sales reporting
  • Uncover rising expenses
  • Supply forecasting and monitoring
  • Identify trending product lines
  • Expose sales opportunities and losses
  • Track KPI metrics across teams
  • Align business activities, strategies, and tactics
  • Improve customer satisfaction, retention, and discounting
  • Increase employee engagement and empowerment

BI Software Implementation

Having a business intelligence strategy has become a necessity for organizations. BI implementation provides instant access to all critical data and allows you to be proactive rather than reactive in your business choices. Using business intelligence tools will not only help you understand more about your customers but will also help you to increase your sales.

Implementation Steps:

  • Staff and stakeholder buy-in
  • Define objectives
  • Set measurable metrics
  • Form an implementation team
  • Research BI tools
  • Define and delegate implementation tasks
  • Create a data cleansing and data analysis process
  • Test implementation and data reporting
  • Setup and train business users on BI tools
  • Enable teams to meet KPI goals

Digital Transformation with Business Intelligence

Create unified teams throughout your company with reliable, centralized data analytics. Digital transformation with business intelligence gives your teams data-driven reports to set up a defined set of goals and metrics that will encourage growth and teamwork. Your business users want to trust your metrics in all avenues of your company and BI tools will drive your business while giving access to a single point of reliable data.

Advantages of Digital Transformation:

  • Empowering employees
  • Engaging customers
  • Optimizing operations
  • Enhancing services and products

White Cup BI by White Cup

White Cup BI for distributors is a cloud platform that can scale with your business operations as your needs evolve and grow. Our distributor-focused analytics put the data that matters most at your fingertips with dashboards and scorecards that uncover new opportunities to increase revenue performance across all aspects of your company.

White Cup has had the advantage of working with the distribution industry for over 20 years. White Cup BI is already mapped out for easy implementation and integration with your ERP. It connects with your database and immediately draws on data in your system. The White Cup team performs a thorough implementation process to ensure data matches what is shown on reports.

Adopting an industry-specific business intelligence software platform such as White Cup BI ensures an effective, easily implemented, and ready-made package just for your company. Turn your sales reps into business intelligence analysts with intuitive tools that provide the right information at the right time. Distribution has many uncertainties in today’s economic changes. Take control back with confidence in a data-driven strategy—contact us to get started.

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